Stock Track | Keymed Bio Soars as New Cancer Drug Wins China Approval

Stock Track09-12

Shares of Keymed Biosciences Inc. surged as much as 6.7% on Wednesday after the biotech company announced a major regulatory milestone for one of its leading drug candidates.

The Chinese biopharmaceutical firm said its drug Stapokibart has been granted marketing approval from the National Medical Products Administration (NMPA) in China. Stapokibart is a third-generation EGFR tyrosine kinase inhibitor being developed for the treatment of non-small cell lung cancer.

The NMPA approval marks a significant step forward for Keymed and paves the way for Stapokibart to enter the commercial market in China. Lung cancer is one of the most prevalent forms of cancer in the country, underscoring the large potential patient population for the newly approved therapy.

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